Nick Minchin SA, Liberal Party, Minister for Finance and Administration
2:20 pm
because, to the extent that the government, by borrowing, is contributing to one’s foreign account debt, you do put pressure on domestic interest rates. The great difference between us and the Labor Party is that we have corrected the government’s position. We have paid off the $96 billion in debt. We have returned the budget to surplus from the $10 billion annual deficit that we inherited from the Labor Party. So, instead of paying $8 billion in interest every year as we did under the Labor government—
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